Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Instagram Outage Disrupts Thousands of U.S. Users 
Thailand Inflation Remains Negative for 10th Straight Month in January 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Fisker’s bankruptcy plan has been approved, with an additional $2.5 million committed to providing crucial tech support for Ocean EV owners. The agreement ensures vehicle software updates, diagnostic data, and remote access will continue despite the automaker's financial troubles.
American Lease Secures Fisker Ocean EV Deal with $2.5M Technical Support Commitment Amid Bankruptcy
After the deal was nearly halted this week due to service concerns for owners, the troubled electric vehicle (EV) maker Fisker has been approved for its bankruptcy plan to dispose of its remaining inventory.
The Ocean EV manufacturer, Fisker, submitted filings to sell its remaining 3,231 units to American Lease for $46.25 million weeks after filing for bankruptcy in June. Each electric vehicle (EV) is valued at between $2,500 and $16,500, and the transaction involves liquidating new, previously owned, and defective units through a sale.
Nevertheless, as Automotive News has described, the agreement was nearly suspended this week when American Lease recognized that it might not transfer Fisker's critical data and support services to its servers. American Lease resolved this issue by providing an additional $2.5 million commitment over five years to access Fisker's technical support services. This officially resulted in the approval of the automaker's bankruptcy filing and benefited current Ocean EV owners.
Judge Approves Fisker Bankruptcy Plan, Secures Tech Support for Ocean EV Owners Amid SEC Investigation
According to Teslarati, U.S. Bankruptcy Judge Thomas Horan officially approved the Fisker filing on October 11, allowing the EV company to pay off debts by selling its remaining EVs and transmitting intellectual property to its creditors.
If the tech support agreement were not in place, Ocean owners would be deprived of essential vehicle software updates, diagnostic data, and the ability to access their vehicles remotely, among other issues. The ruling was also a response to the apprehensions of numerous Ocean owners regarding the fate of their vehicles following the bankruptcy filing. Despite this, the EV manufacturer had previously approved 23 service shops in the United States and Canada.
Before its official filing, Fisker had been on the brink of bankruptcy for several months, and it appeared to be the most viable alternative for the company after a previously anticipated acquisition from Nissan was unsuccessful earlier this year.
Additionally, the Securities and Exchange Commission (SEC) issued numerous subpoenas to Fisker last week. The SEC is investigating the electric vehicle manufacturer and has recently opposed the liquidation plans.
